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In case the situation expanded, the consequences will be unpredictable and uncontrollable. The following picture was sent from the complainant. The mess in the scene and the ground full of broken glass indicates the disastrous results. Because of the protest, IronFX cannot work normally nowadays and police had got involved.
Obviously, although the situation is quite bad now, IronFX is not so concerned. According to the complainant, IronFX worried most that clients will go to their Beijing office to protest. As we all known, Beijing is the capital so that whatever happens in Beijing will certainly gain lots of interests.
IronFX becomes passive under this circumstance; the way things go is far beyond what they had imagined. The industry veteran hold the opinion that based on the purchase before, after the agreement, the original company will not accept any withdrawal requests within the agreed zone.
Just like insurance, if a insurance company offer life business, it is not allowed to close down unless discrete or merge. Moreover, towards the previous news that IronFX is going to be listed, this industry veteran holds the attitude that probably the capital chain was broken and they come up with this idea to absorb more money.
The result and expectation run into opposite directions. Thus, XM may think that IronFX is in a very hard position now; to be purchased is the best option so that they announce purchase. What is the future of IronFX?
Continue to shine or being purchased? We are emotional about the awkward situation of IronFX now; we should more concern about the clients who were played by the bad brokers, what are their futures? In this way, the most important for a investor is to choose a regular, safe and reliable broker.
CNgold is reporting that IronFX formulate unfair clauses, prohibit the client from arbitrage, in case the client break these rules, all the bonus, profits and principals will be deducted. After this was announced, clients start protesting. The original text is as follows:. The hard withdrawal issue of IronFX is getting worse; we investors cannot bear this anymore! Today we will expose part of the issue.
Several days ago, IronFX had published a new police regarding arbitrage: Since nowadays many clients are trading arbitrage, from now on, clients who trade like this will not be able to get commission, as well as bonus and principal. IronFX had paid a lot of attention to this arbitrage prohibition. Business managers who have client doing arbitrage will be dismissed.
The official attitude of IronFX towards declining our withdrawal is the declination of withdrawal has nothing to do with listing. IronFX holds the opinion that we misuse the bonus so that they must eliminate our profit and commission and get our accounts back to initial deposit amount.
We have nothing to comment about this, every time there is an issue; they will blame either the business manager or us investors. I want to question IronFX; the bonus plan is regulated by whom? Who hired your employees? Why such a serious issue happened and you just fired 2 business personals and blame investors that we misuse the bonus plan that you had made? As clients, and are considered arbitrage by IronFX, we feel really wronged. At the beginning, it was IronFX staff contacted us and taught us to trade in this way.
IronFX regards us as making profit from illegal way and now they take individual business manager behavior has nothing to do with company as excuse to refuse to pay us the profit. Also, they declaimed that the situation is not a matter for them; they are not influenced at all.
They will not change any polices, just leave us two options:. Before the protest, there had already been other protests in many other offices of IronFX e. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.
The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.
By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Read this Term had suddenly stopped working, causing major losses for investors.
In China, the currency market is highly regulated and all international transactions are reported to the government. For this reason, complaints about FX companies might attract much unwanted attention not related to the specific accusations in this or other cases.
The TV show was presented in five segments which have been translated below:. Segment 1: Iron Affiliates Complaints. Li from Guangxi Province, who had previously been working in the marketing field, received a phone call from Cyprus in May of this year. In the first two months, IronFX paid the promised amount of commission to the affiliate. But starting from the third month, IronFX claimed that the commission policy had changed and according to the new policy, they were not qualified for commissions.
Three other affiliates from China experienced a similar experience. These affiliates had watched the previous episode of the show investigating IronFX, so they came from all over China to the TV channel to talk about their experiences. Wu, said he always had problems closing the position when he made money. Only when he lost money, could he close the position. He also used other trading platforms but only had this problem with IronFX.
Segment 2: Where Did all the Money Go? Furthermore, clients also discovered that the funds they had deposited into their accounts were not transferred abroad to the big banks in Europe, as IronFX claimed. A journalist performed a series of deposit experiments and found out that the money he had deposited with different major commercial banks in China went to third party payment channels, later ending up in unknown companies in Shenzhen, Zhuhai, and even at virtual currency companies.
But if the clients who paid IronFX and the money ended up at our account, maybe we will pay IronFX later or maybe IronFX doesn't have the permit to receive this money directly from the clients. Don't ask me. Are they registered abroad then? The journalist contacted the third party payment companies which had transferred the money to them, and the third party payment companies said all their clients are based in China. So the reporter concluded that the money never travelled abroad.
In the IronFX payment options, Chinese clients can only pay in dollars or in euros, but they can pay from almost all of the major Chinese bank accounts. The journalist called IronFX and asked about the speed of international transactions, and IronFX told the journalist that they had good cooperation with third party payment companies in China.
Additionally, they have reserved foreign currency with the Foreign Currency Regulation Bureau.
A statement exclusively sent to Finance Magnates by a CySEC spokesperson confirms that the company mentioned in the Audit Office document is. Scams arrived in the country in their search for a safe place to operate in Eastern Europe. A source told Finance Magnates: "There is a big. Scam brokers often make claims such as “make $50 a day from a $ investment” or “make 80% returns on profit signals” or “96% success rate.”.